From almost to approved.
Every month lenders turn away borrowers - not because they lack income or credit - but because of a gap in their down payment.
Young Family's Foundation provides the down payment assistance that closes this gap, ensuring more hardworking families are approved for home loans, growing your portfolio while strengthening North Idaho’s economy.
“We see partnering with lenders as a triple win for North Idaho! Local families become homeowners, local businesses have a stable & growing workforce, and lenders maintain a growing loan portfolio!”
-Corina Larabee, CoFounder, Executive Director
Why Become A Partner Lender
A SIMPLE PROCESS FOCUSED ON DPA
Lenders work directly with YFF to provide down payment assistance, getting young families into homes quickly
NO STRINGS ATTACHED
Families don’t have to pay anything back, provided they live in the house for 3 years
SEASONED & SUCCESSFUL LEADERSHIP
Committed to maximizing impact by keeping overhead low, putting more money in the hands of young families
COMMUNITY COLLABORATION
Leaders from multiple sectors are coming together to effect change for young families and our local economy
How the Model Works
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Eligible families seek preapproval from a partner lender
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If a gap exists, the lender contacts YFF to secure funding
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The family takes a homebuyer education course
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Down payment assistance is transferred to the title company at closing
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After they’ve lived in the house for 3 years, the down payment never has to be repaid
If you are interested in becoming a lender partner with Young Family’s Foundation, take these 3 steps:
Follow these steps
STEP 1 -
Review our eligibility guidelines for local families to receive assistance see guidelines >
STEP 2 -
Submit a lender partner interest form
STEP 3 -
Meet with the YFF executive team
Lender Process
If you're a lender and would like to partner with us, please read and acknowledge the criteria listed below. We will then reach out to start the approved lender process. We look forward to working with you to help young families in Idaho purchase a home!
Eligibility Guidelines to Receive Financial Support from Young Family’s Foundation
1. INCOME AND EMPLOYMENT REQUIREMENTS
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At least one parent must be employed full-time, or both parents working a minimum of part-time.
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Family income must fall within a reasonable range, e.g., 80%-120% of the Area Median Income (AMI) for their location, ensuring they are not over or under qualified.
2. FAMILY REQUIREMENTS
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Must have at least one dependent child under 18 years old living in the household.
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Must demonstrate stability in family circumstances (e.g., no history of recent evictions, solid rental history).
3. HOME PURCHASE CRITERIA
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The home purchase price must not exceed $575,000 (or adjusted based on local housing market conditions).
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The property must serve as the family’s primary residence.
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The home must pass an independent inspection to ensure it is safe and meets local housing standards.
4. FINANCIAL QUALIFICATIONS
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Must be working with a qualified Young Family's Foundation lending partner.
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The gap in funding required to close the home purchase must not exceed $20,000 (or a foundation-specified cap).
5. SAVINGS AND CONTRIBUTION REQUIREMENTS
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Family must contribute at least .50% of the home down payment from their savings to demonstrate commitment.
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Credit score of at least 620.
6. RESIDENCY REQUIREMENTS
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Preference may be given to families with longstanding ties to the area, such as local employment or extended family nearby.
7. COMMUNITY AND EDUCATIONAL COMMITMENT
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Family agrees to participate in first-time homebuyer education workshops to strengthen financial literacy, budgeting, and property maintenance skills.
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Willingness to engage with the foundation community-building activities, as appropriate, to foster long-term stability and shared values.
8. PARTNERSHIP AND FOLLOW-UP
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Family agrees to meet with Young Family's Foundation and to remain in contact with the foundation for at least one year post-purchase to track the program’s success and ensure financial sustainability.
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Family agrees to share the story of how Young Family’s Foundation helped them if asked (e.g., photos & videography with YFF).
9. DOCUMENTATION REQUIRED
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Bank or lender pre-approval letter with specified funding gap.
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Proof of dependent children (e.g., birth certificates).
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Inspection report for the prospective home.
Want to partner with us as a lender?
Partnering with Young Family's Foundation as a lender means joining a mission to empower young families on their journey to homeownership. Together, we can provide the tools and opportunities these families need to achieve their dream of owning a home, while expanding your reach to a new generation of homeowners.
